HP to Continue $4 Billion Damages Case Against Mike Lynch

Hewlett Packard said Monday it would proceed ineligible proceedings to question up to $4 cardinal successful damages from British billionaire Mike Lynch’s property successful the UK.

The U.S. institution had been seeking compensation implicit its acquisition of British tech steadfast Autonomy amid claims of fraud masterminded by its co-founder Mike Lynch to inflate the company’s value.

Lynch, who died successful August erstwhile his yacht sank disconnected the seashore of Sicily, had denied immoderate wrongdoings.

“It is HPE’s volition to travel the proceedings done to their conclusion,” the institution said successful an emailed connection to Reuters.

Related: HP Claims $4 Billion Losses successful London Lawsuit Over Autonomy Deal

HP had bought Autonomy for $11.1 cardinal successful 2011 successful 1 of the UK’s biggest tech deals. But successful precocious 2012 the institution said it had discovered a monolithic accounting ungraded astatine the British tech firm.

In 2022, HP won a civilian lawsuit against Lynch but a High Court justice said that immoderate damages would beryllium little than the $5 cardinal HP had claimed.

A spokesperson for Lynch’s household said they did not person immoderate remark to stock astatine this stage.

The institution had filed the suit against some Lynch and Autonomy’s erstwhile main fiscal officer, Sushovan Hussain.